Mining with the ‘big boys’ – One year on

I can’t really believe it’s been well over a year since I started mining with CyberianMine as I blogged about here at the time. Then, my single Antminer S9 (nicknamed’ Eddie’) was happily punching out 13.5 Th/s and collecting sats 24/7. Every day, a small amount of Bitcoin was automatically transferred to my wallet and, like a savings account earning a small amount of interest, it grew and grew. That little Antminer is still whirring away right now, even as I type, in a facility deep in the Siberian landscape. It’s never broken down. It’s an amazing bit of kit. Continue reading “Mining with the ‘big boys’ – One year on”

The future of Bitcoin (A mid 2019 view)

I’ve now been in the ‘crypto space’ for a couple of years actively (and a couple of years prior to that poking it with a stick) and someone asked me the other day if my views on Bitcoin in particular had changed in that time. That got me thinking. Have they?

Well, yes. And, no. That’s the short answer, but I suspect they wanted a more detailed answer, so I shall attempt to appease them.

Continue reading “The future of Bitcoin (A mid 2019 view)”

Withdraw your own money? You must be joking.

This actually happened to me today, word for word. There’s a great case for Bitcoin in my view, but sometimes the banks just like to make that case even more pronounced, don’t they?

It’s no secret I am a cryptocurrency advocate. I still think Bitcoin will retain the number one spot overall as a way to make infrequent, large purchases and/or a store of value, but I also think a handful of other currencies will exist for fast, day to day transactions for different reasons such as XRP, Litecoin and Monero. However, I don’t believe any of them will actually replace the banking system and nor should they. For various economic and monetary policy reasons, there needs to be sovereign currencies. But perhaps the fact that there is a real, global competitor that is becoming increasingly accessible will force the powers that be to examine how their currency is maintained. Well, maybe. Or maybe I’m just being an optimistic hippie-esque revolutionary again. Continue reading “Withdraw your own money? You must be joking.”

If you build it, they will come.

It’s easy to forget just how young the crypto ‘industry’ is.

I even do it myself sometimes. Compared to many people I was in quite late, specifically the autumn of 2013, and even then I poked it with a stick rather than got actively involved. It was just so damned hard to buy anything and I wasn’t even sure I understood it properly. It all seemed a mass of messy information – much of it contradicting itself – and it took real perseverance to get anywhere. Yet, despite all of this, I could see the potential. It would surely only be a few short years before Bitcoin, and perhaps a few select altcoins, would be the primary method of transacting globally. Continue reading “If you build it, they will come.”

Don’t mention Bitcoin …

Having been refused advertising back in the day by Exchange & Mart for wanting to use a mobile number instead of a landline, then barred from Ebay for life in a bizarre turn of events despite having perfect stats for over 10 years and, finally, having my ads removed from Gumtree because I offered Bitcoin as a payment option, I now find that I am on the Facebook naughty list for promoting my most recent book.

The book, an innocent little affair called ‘How to Explain Bitcoin to your mum‘ is an easy to understand lighthearted, yet thorough, explanation of what Bitcoin is and how it works, written for a complete beginner. As the title suggests, it was written with my mum in mind who doesn’t understand or use the internet and doesn’t own a mobile phone. Just try explaining Bitcoin in THOSE circumstances! (I’m please to report, incidentally, that the book did have the desired effect and my mum no longer thinks I am going to prison for operating a giant worldwide scam.) Continue reading “Don’t mention Bitcoin …”